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U.S. and Japan: high short fell sharply

2022-07-22
1183
Fundamental analysis:

The dollar remained volatile against the yen at around 137.302. The Bank of Japan kept the benchmark interest rate at a record low of -0.1%, and maintained the 10-year Treasury yield target at around 0%, in line with market expectations.



USD JPY - 4-hour K-line chart shows:




Technical analysis:


Looking at the 4-hour chart: in the short term, it is at a high level, moving up slowly, the high level retreats when it is blocked, the short momentum is waiting for the opportunity to enter the market, falling rapidly, the MACD index is at a weak position near the 0 axis, and the RSI index is at a narrow range consolidation below the 50 equilibrium line;


Long short turning point: 137.446


Pressing position: 137.756, 138.075


Support position: 137.009, 136.715


Trading strategy: bearish below 137.446, target 137.009, 136.715


Alternative strategy: bullish above 137.446, target 137.756, 138.075

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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